Protection of the Value of Turkish Currency – Decree No. 32

Legal Significance

What This Instrument Does

Sets the rules for FX transactions, capital movements, foreign-currency borrowing by residents (Arts. 17 and 17/A) and precious-metal dealings. Detailed rules are issued by the Ministry of Treasury and Finance, chiefly in Communiqué No. 2008-32/34 (Resmî Gazete 28 February 2008, No. 26801). The enabling statute is Law No. 1567 (1930). Article 1 of that Law, which empowers the President, was re-enacted by Law No. 7555 (Resmî Gazete 24 July 2025, No. 32965). Article 2 of Law No. 1567 was annulled by the Constitutional Court (E.2024/193, K.2025/136). Article 3(2), on sanctions, was annulled (E.2024/169, K.2025/72) and then re-enacted by Law No. 7555.

Why It Matters

FX-denominated contracts, foreign-currency loans and cross-border payments in Turkish project finance must comply with this regime; Law 1567's 2025 re-enactment confirms the statutory basis on which it rests.

Legal Framework Position

Foreign Exchange / Capital ControlsPrimary / Framework Instrument

Instrument Overview

Official Citation: Decree No. 32 on the Protection of the Value of Turkish Currency (Türk Parası Kıymetini Koruma Hakkında 32 Sayılı Karar), Council of Ministers Decision No. 89/14391 of 7 August 1989, Resmî Gazete 11 August 1989, No. 20249; issued under Article 1 of Law No. 1567
Instrument Type: Decree
Source Language: Turkish
Enactment Date: 7 August 1989
Last Amended Date: 9 July 2025
Last Verified: 1 October 2026

Official Source

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Recent Developments

Regulatory · 24 July 2025Law 7555 re-enacts presidential FX authority under Law 1567 and restructures FX sanctions
Law No. 7555, published in the Resmî Gazete on 24 July 2025 (No. 32965), rewrote Article 1 of Law No. 1567 on the Protection of the Value of Turkish Currency, the statutory basis for Decree No. 32. It also restructured the Law's sanctions after Constitutional Court annulments earlier in 2025.